Outsourced Accounting Services In Fairfax County, Virginia
We Help Northern Virginia Business Owners Make Smart Financial Decisions
What Is An Outsourced CFO?
An outsourced CFO is someone that a business owner can trust to guide them towards having a growing, successful, profitable business. While small business owners are experts in their own industries, CPAs are experts in the financial management aspects of operating a business. As a business owner, it’s hard—maybe even impossible—to simultaneously operate a business and attempt to become a financial expert, tax guru, or accountant.
As an example, if you were starting or buying a dental practice, do you think you would benefit by working with a CPA who has already worked with a dozen other dentists to start, operate, and even sell a dental practice? As an experienced CPA firm, we may have already seen the issues you will encounter, and we may have already found solutions that can help you avoid mistakes.
Rather than trying to become an accountant yourself or hiring an accountant internally, you can save a lot of money, achieve your goals faster, and dramatically improve quality by outsourcing to the right CPA firm. Consider that your internal accountant only has perspective from working with one client—their employer. As a CPA firm, we have perspective from working with hundreds of clients over decades, some in your same industry.
Our Three-Step Outsourced CFO Process
Simply put, we can do it much better and for much less than you doing it yourself or you hiring in-house staff. We already have the industry expertise, processes, and procedures in place. For maximum effectiveness, a successful relationship with a CPA firm combines three core areas to bring significant value to clients: compliance, tax planning, and business advisory.
Step One – Compliance
With the Compliance component, we keep you on track and out of trouble with the IRS.
Step Two – Tax Planning
With the tax planning component, we help you minimize your tax liabilities and save money in taxes.
Step Three – Advisory
With the Advisory component, we help you grow your business and achieve your financial goals.
QuickBooks or QuickMess?
In our experience, without professional guidance, QuickBooks has the potential to make clients “dangerous.” QuickBooks must be setup properly and maintained properly on an ongoing basis in order to accrue benefits from the software. Otherwise, “QuickBooks” can quickly turn into “QuickMess.”
Since the integrity of your financial statements from QuickBooks impact both your tax planning and tax returns, it becomes extremely important to ensure your Books are in good shape. Our service includes ongoing year-round QuickBooks consulting and periodic QuickBooks “health checkups” to help you manage your internal accounting system.
You will likely have accounting questions throughout the year as various transactions arise. Our service includes accounting support year-round to help you ensure that you are properly recording your transactions from an accounting and tax perspective.
You will need two core financial statements in order to properly track your business, to conduct tax planning, to accurately prepare your tax returns, and for a variety of other matters. Our service will enable you to track your Profit & Loss and your Balance Sheet.
We Make Outsourced CFO Services Accessible to Small Businesses
Most small businesses want a CFO to provide financial management but they don’t have the budget to pay for a full-time dedicated CFO. We fill this gap to provide small businesses with the financial advice they need in an outsourced model which can be done part-time at a fraction of the cost.
As an example, the cost of hiring a full-time CFO is on average $229,000 per year, plus vacations, bonuses, and other benefits. This cost can be significant for new and growing businesses, but there’s a better way! We enable you to outsource your CFO and accounting needs, all at a fraction of the cost of a full-time CFO.
You don’t need to be a large company to benefit from a CFO. Most of our small business clients have annual sales between $300,000 to $10,000,000. In this way, we make our virtual, outsourced CFO services accessible to small businesses.
Our simplified, fixed-fee pricing model means that you will never pay hourly for accounting services ever again. We use specific criteria with complete transparency to provide you with pricing feedback in advance, without surprises. There are no hidden costs or miscellaneous fees. In fact, we include unlimited consultations as part of our service. In less than 15 minutes, after learning more about your business, we can quote you a fee via Zoom or telephone.
Don’t Go It Alone. Take A Guide To Ease Your Journey
We help you find meaning and insights in your numbers so you can make smart, strategic decisions. Simply put, we help our clients run their businesses better. We strive to optimize every facet of the financial management of your business including strategic business planning, cash flow management, tax strategy, marketing strategy, payroll, financial planning, and much more.
You benefit from our hard-won industry expertise which is achieved only after working with hundreds of clients over many years. On an ongoing basis, we meet to review your financials, provide tax planning insights, discuss our observations, and answer your questions. Importantly, we will help you interpret the numbers so you can actually use your financials to understand, operate, and improve your business.
We partner with you and become a member of your management team to help you achieve your business goals, faster. We provide small businesses financial leadership as your business’s Chief Financial Officer to help you increase revenue and profits. In this way, we transcend traditional accounting services to provide you with ongoing strategic advice.
QuickBooks
QuickBooks Online software setup or migration. Ongoing QuickBooks consulting. Periodic QuickBooks “Health Checks”
Financial Statements
Monthly bookkeeping and account reconciliations. Profit & Loss. Balance Sheet. Timely financial statements you can actually use and rely on.
Tax Returns
Annual business tax return. Annual individual tax return. Annual business property tax return. Annual business license tax return.
Quarterly Estimated Taxes
Formal in-depth projections to avoid tax surprises. Tax reminders and due date monitoring. Tax withholding adjustments.
Tax Planning
Identifying tax strategies to save you money. Guidance to minimize your tax liabilities. Help with ongoing tax strategy implementation.
Advisory Meetings
Ongoing periodic “Financial Clarity” meetings. Ongoing periodic tax advisory meetings. Identify strategic insights in your numbers.
Unlimited Support
We include unlimited consultations via Zoom as part of our service. We’re an extension of your team, and we want you to treat us that way!
Business Metrics
Establish & monitor KPIs (Key Performance Indicators). Establish & monitor marketing metrics & sales pipeline metrics.
Cash Management
How much money do you need in a cash reserve? How much cash should you keep in your operating account? Short-term versus long-term.
Pipeline Management
What data do you need to determine how best to expand your customer base? How do you calculate your ideal pipeline size?
Forecast Management
What should you include in your short-term and long-term forecasts? What is the impact of hiring employees or contractors on your financial forecast?
Strategic Growth Guidance
Guidance to refine your business and marketing strategy. Benchmarking against industry peers. Accountability partner to keep you on track.
Net-Worth Guidance
Guidance to build your personal net worth, avoid expensive financial mistakes, become debt-free, and secure your retirement.
Business Guidance
Guidance to grow your business, optimize your cash flow, and maximize your profits. Guidance with loans and financing to fund expansion.
Exit Guidance
Guidance to increase your business enterprise value. Guidance during business acquisitions. Guidance to make your business saleable for exit.